Friday, May 5, 2017

Nobel Prize winners against divisive xenophobic nationalism in France

Today, Paul Krugman has made clear what he thinks about Marine Le Pen in the New York Times. A few days ago, other winners of the Nobel Prize in Economics (including Jean Tirole, Angus Deaton and Joseph Stiglitz) published a letter in Le Monde saying this:"Some
of us, winners of the Nobel Prize for Economics, were cited by
candidates in the French presidential election, notably by Marine Le Pen
and his teams, to justify a political program on the question of
Europe. The signatories of this letter have different positions on the complex issues of monetary union and stimulus policies. However, our opinions converge to condemn this instrumentalisation of
economic thought in the framework of the French election campaign.- European integration is essential not only to maintain peace on the
continent but also for the economic progress of member states and their
political power in the world.- The evolutions proposed by the anti-European programs would
destabilize France and would call into question cooperation between
European countries, which today ensures economic and political stability
in Europe.-
Isolationist and protectionist policies and competitive devaluations,
all at the expense of other countries, are dangerous means of trying to
generate growth. They lead to reprisals and trade wars. In the end, they will prove detrimental to France and its trading partners.- When they are well integrated into the labor market, migrants can be an economic opportunity for the host country. Several of the most prosperous countries in the world have been able to welcome and integrate emigrants.- There is a big difference between choosing not to join the euro first and getting out after adopting it.-
The commitments to social justice must be renewed, thus guaranteeing
and developing equity and social protection, in accordance with France's
traditional values ​​of freedom, equality and fraternity. But we can and must achieve this social protection without economic protectionism.- While Europe and the world are facing unprecedented hardships, more solidarity is needed, no less. The problems are too serious to be entrusted to divisive politicians."